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This is the Most Powerful, Functional, and Flexible Balance Sheet Software Ever Created for Consumers and Advisors People need to know what they have, how much they owe, and what the difference is. The difference between assets and liabilities is called net worth. This financial plan software shows both a current snapshot, and a long-term forecast of assets, liabilities, and net worth. It does everything you want, and everything other net worth software does. There are two programs: The net worth calculator is for determining a current net worth "snapshot" for a family. The net worth projector then forecasts everything far into the future. Then the Integrated Financial Planner has the Net Worth Projector hard-wired with Dual RWR and the Multiple College Planner. It's more precise than any other net worth spreadsheet, because you can control both asset and liability values down to the dollar in every year. Other financial software may allow control of annual asset values, but not liabilities. This is because liabilities are usually automatically generated and can't be changed. You can also use Excel's built-in Goal Seek function to perform any "What If" scenario that other net worth software can do, plus dozens more they can't. First, the Net Worth Calculator 12-sheet, 4Mb, Excel spreadsheet · It calculates overall net worth by listing everyone's assets and liabilities, and then shows the differences. · It has a generic input sheet for family and asset class information. Then it has four input sheets for each type of ownership: Client, spouse, jointly held/community property assets, and children's assets. Each of these four categories has five input areas, for a total of twenty separate accounts. Each account will handle 25 assets. This adds up to a total of 500 assets. Each of the twenty accounts can have an associated liability. This is how things usually work in the Real World. For example, a brokerage account will have only one margin account associated with it, and a 401(k) will have only one loan against it. · It has over a dozen charts for graphically showing all pertinent information. The bottom lines are presented in different formats to show different perspectives. · It has an All Assets sheet showing a top-level view of all assets together. It also has an All Liabilities sheet. Then it has "drill-down" capabilities, so you can see more and more asset and liability detail, as you look deeper into the reports. · It's formatted to look and feel like financial statements from brokerages, 401(k)s, and other financial custodians. This makes it easier to input data, keep accounts separate, and gives bottom-lines people are used to seeing. · You can input asset values from up to twelve past time frames. This calculates percent changes of current values from these past time frames in each asset and each account . This feature allows you to overcome limitations inherent with brokerage statements that don't include assets not held in the account. For example, if you have a stock account, a rental property, and a bank savings account, the rental and savings account will not appear on the brokerage statement. With this balance sheet software, you can input all three, their past values, then it will estimate percentage changes over time that include everything. They are set up to show monthly changes, but you can use them to show annual changes, or any time frame you want. · It has a result sheet for non-qualified assets and another just showing qualified, to keep them separate. Both allow you to compare current with prior values. This helps plan which assets, or group of assets, to tap first when retiring. · It lists all assets by asset class with dollar amount breakdowns. It also has a pie chart with asset class percentages for each account. This is shown for each person. You can ignore all of this by not inputting any of the asset class data, and everything else will work fine. · It has a sheet that shows asset values, tax basis, and estimated after-tax values considering both ordinary income and capital gains taxes. This is for estimating how much would be left after capital gains taxes if you sell assets. This allows you to see net worth with assets held, and then net worth estimates assuming assets are sold. · It has a sheet that breaks out liabilities for each account and family member. · You can modify it any way you want, so results will have the most meaning and print well. · To eliminate duplicate input (data entry), you can integrate and share data between financial plan modules. The Integrated Financial Planner has the Net Worth Projector hard-wired with Dual RWR and the Multiple College Planner to eliminate all duplicate input. · Financial professionals: This is a great tool to get "data confirmation" with clients before spending time working on other modules. Confirming data helps prevent having to redo everything if there's confusion over assets during the financial plan presentation, which is common. In other words, you run this report first, then send it to the client asking if everything is right. They'll usually send it back with corrections. Then you can continue work on the financial plan without having to worry about redoing things because of a mistake. The 75-Year Net Worth Projector 19-sheet, 10Mb, Excel spreadsheet This is by far the most comprehensive financial software for taking a current snapshot of a family's net worth, and then projecting everything in detail up to 75 years into the future The net worth projector just takes the data entered into the net worth calculator, and then automatically forecasts everything into the future. It's the same twelve sheets as the net worth calculator, but with seven more sheets that project asset and liability values. You can ignore all of the detailed input to keep it simple. Just input global rates of growth into each account used, and everything is automatic. For more precision, you can also control end-of-year values to the dollar by using the manual overrides. You can also have different annual rates of growth, or shrinkage, by using the annual rate of return manual overrides for each individual asset. This allows you to account for any oddball situation that's going to happen in the future, like reverse mortgages, buying new assets, depreciation, inheritances, etc. In addition to everything on the Net Worth Calculator, the Net Worth Projector has: · Results sheets that shows annual end-of-year values for all twenty accounts for 75 years. This is shown both in table and graphic form. You can also see annual values for all 500 assets. · Assets are shown by all client's qualified assets, all client's personal assets, and then total combined assets. Then the same for the spouse, jointly held assets, and children's assets. · Everyone's assets, liabilities, and net worth are shown on an annual basis individually. Then everyone's combined accounts are summed up, and displayed together to show the family's total assets, liabilities, and net worth. · All twenty accounts have automatic liability generators, and a manual override column for each, so you can input exact amortization schedules from bank loan ledgers. No balance sheet software calculates liabilities correctly. We looked at all of them to see how they do it, so we could do it the same way, but none did it right. This is because there are too many Real World variables. To make this the best balance sheet software ever created, we made it so you can just use the automatic liability generators to get close enough (as close as other software). Or you can manually input every year's estimated ending liability from loan ledgers. You can skip these details to keep it simple, or you can control all liabilities to the dollar in every year. · There are many charts and graphs that display annual information in different formats. · You can modify it any way you want, so results will have the most meaning and print well. · You can control the amount of integration with other personal finance software modules. For example, you can use annual asset values from retirement planning software. This will then show net worth after accounting for cash flows that come out of assets that provide retirement income. This allows you to see net worth grow before retirement and shrink afterwards. This is where you can automatically account for assets paying out retirement income, other withdrawals, and adding contributions to them over time. Why aren't you taking advantage of this? Send e-mail and if you have an interesting reason, then you may get a freebie. To download the demo, right click on the link below, and then choose "Save (Target) As..." to save to your hard drive. Then find and open with Excel. Answers to frequently asked demo questions and how to use demos. Download the non-functional Net Worth Calculator "demo." 750KB, the actual program is 3.5MB Download the Net Worth Projector "demo." 3MB , the actual program is 10MB Then read the instructions and follow along with the "demo" open |
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